Launched in March 2014, POPxo claims to be attracting over 9 million users every month, who largely access it on their mobile devices. The company claimed that around 80% of POPxo users are females in 18-35 age range, and over 70% of traffic comes from outside the top 5 cities.

"We focus on leveraging our large user base to generate transactions - beginning with affiliate e-commerce, across categories. This fundraise will help us deliver on the faith our audience, brand partners and investors have shown in POPxo." said POPxo Founder & CEO Priyanka Gill.

POPxo has worked with over 175 brands including the likes of Hindustan Unilever, Puma, Whisper, Tanishq, OPPO, L’Oreal, Reliance, Amazon and Jabong for large-scale influencer activations and native advertising.

"POPxo has managed to grow their user base to an impressive scale. The vision for POPxo is to become the one platform where Indian women not only consume content but also interact with their peers and shop - this is a story we have seen play out really well in China." said Gurpreet Singh - Global VP, GWC.

"We believe that POPxo is fantastic company with a lot of momentum as seen in their accelerating audience growth across all platforms and social media. That, coupled with trends which point to advertising moving to digital media as well as explosive e-commerce growth in India, bodes well for the company. It is our first investment in India and we can see a lot of synergies going forward." said Lisa Gokongwei-Cheng, founder of Summit Media that is marking its India foray with this investment.

ET reported in March that the startup has increased its focus on writers and employees understanding and is using data to determine which among the 500 stories that are published on a monthly basis go viral or are read enough, in order to increase the readership base. At the time, sources had told ET the company is presently focusing on breaking even by the end of 2017.